|Bid||86.91 x 1000|
|Ask||87.60 x 800|
|Day's Range||86.80 - 87.48|
|52 Week Range||77.82 - 91.79|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.14%|
Cornerstone Macro's Carter Worth on whether health care stocks have more room to run. With CNBC's Melissa Lee and the Fast Money traders, David Seaburg, Gina Sanchez and Tim Seymour.
The U.S. economy added 213,000 jobs in June, beating economist expectations of 195,000. The unemployment rate rose from 3.8% to 4.0% while wage growth climbed at a 2.7% year-over-year pace. Yahoo Finance's Seana Smith, Pras Subramanian and Julia La Roche discuss.
In an effort to stave off Amazon, CVS will roll-out nationwide delivery of prescription medication. Yahoo Finance's Seana Smith, Ethan Wolff-Mann, David Pogue and Rick Newman discuss.
Pfizer Inc. (pfe) announced Wednesday a plan to reorganize into three businesses, including a new hospital business unit for anti-infectives and sterile injectables. The new hospital medicines unit will be part of Innovative Medicines, which will also include all of the current innovative health units and biosimilars. The company said the changes come with the expected "significant reduction in the impact of patent protection losses post-2020 following the loss of exclusivity for Lyrica in the U.S., which is expected to occur in or after December 2018." Pfizer said the changes aren't expected to affect capital allocation priorities or 2018 financial guidance.
As promised, President Donald Trump confirmed that he will fire the first shot in the trade war against China by levying tariffs on $34 billion of Chinese imports starting today, triggering almost sure-shot chances of retaliations. Not only China, the European Union is also prepared to cap its imports of steel as part of a knock-on effect of Trump’s protectionism.Source: A Closer Listen
In 2018, the trend of small-cap healthcare outperformance over large-cap counterparts accelerated aggressively, with the Invesco S&P SmallCap Health Care ETF ( PSCH) returning 30.50% year to date (YTD) and the large-cap Health Care Select Sector SPDR ETF ( XLV) up a meager 1.70%. This suggests at the very least that we don't want to be short on a relative basis.
Henry Schein Inc. (hsic) disclosed Monday that it has committed to a plan to "rationalize" its operations and provide "expense efficiencies," but did not provide any details of what that plan would entail. The health care products company said the plans was expected to be completed by the end of 2018, and will file an amendment with the Securities and Exchange Commission when it determines the costs of the plan.
The latest June jobs report published by the Bureau of Labor Statistics showed an increase of 215,000 jobs--9.2 percent higher than original forecasts--with health services being one of the top beneficiaries of the increase. The jobs report revealed that the education and health services sector represented the biggest net job gainer for June--54,000 new positions created. Of that number, about 25,000 came as a result of hiring in the health care sector.
U.S. stocks finished Thursday's trade solidly higher--a day after the Fourth of July break--as investors appeared to dismiss worries about an impending deadline on trade between the U.S. and China, and the release of minutes from the Federal Reserve that acknowledged the potential for tariff disputes to harm domestic economic expansion. An account of the June meeting from the policy-setting Federal Open Market Committee's two-day convention ended June 13 pointed to unease over trade clashes that could hold back economic growth but not sufficiently to prevent the Fed from hiking benchmark interest rates. Meanwhile, the U.S. is scheduled to impose tariffs on $34 billion of Chinese imports Friday, and China is expected to counter with corresponding tariffs on U.S. imports in less than 24 hours, marking a mounting tit-for-tat conflict between the world's largest economies that has threatened to rattle global markets.
Hambright initiated coverage of the sector with a bullish view, with Intuitive Surgical (ISRG), Boston Scientific (BSX), and Abbott Laboratories (ABT) as his Outperform-rated stocks. Then, of course, there are macro tailwinds, including an aging global population and expanding middle class and maturing medical care in emerging markets.
General Electric Co. said Tuesday it expects to maintain its current dividend, until GE Healthcare is established as an independent entity following the planned spinoff. At that time, GE Healthcare will determine its dividend policy, to reflect industry practices, and GE expects to adjust its dividend with a target policy in line with its industrial peers. The stock, which as of Tuesday is no longer a Dow Jones Industrial Average component for the first time in 111 years, surged 4.3% in premarket trade.
On Thursday, Amazon.com (AMZN), Berkshire Hathaway (BRK.B) and JPMorgan Chase (JPM) named Atul Gawande chief executive of their new health-care joint venture next month. Gawande has plenty of impressive credentials, as he practices general and endocrine surgery, teaches at Harvard Medical School, and is a bestselling author, among other accomplishments. Bernstein's Lance Wilkes weighs in on the appointment, writing that Gawande's appointment emphasizes the joint venture's enablement of change and disruption of the current healthcare system.
Dr. James Madara, the chief executive of the American Medical Association, wrote to U.S. government officials on Tuesday urging them to stop a "zero tolerance" policy toward undocumented immigrants that so far has separated about 2,300 immigrant children from their parents. At a recent policy-making meeting of the U.S.'s foremost doctors group, delegates said the policy "will do great harm to children and their parents or caregivers, who felt compelled to make a dangerous and uncertain journey because of safety concerns in their own countries," Madara wrote in the letter, which was made public early Wednesday. It is well known that childhood trauma and adverse childhood experiences created by inhumane treatment often create negative health impacts that can last an individual's entire lifespan." The Trump administration announced the zero-tolerance policy in early May and views separating children from their families as a deterrent to illegal migrants, according to a report.
Consumer prices in the United States grew 2.8% year over year in May 2018, above market expectations of 2.7%. It also marked the highest inflation rate since February 2012. Higher cost of gasoline and shelter led to the estimate beat.
The sector with some of the hottest stocks in the past decade, tech segments remain the fastest growing industries today. The “FAANG” contingent of Facebook Inc. (NASDAQ: FB), Amazon.com, Inc. (NASDAQ: AMZN), Apple Inc. (NASDAQ: AAPL), Netflix, Inc. (NASDAQ: NFLX) and Google-parent Alphabet Inc. (NASDAQ: GOOG) (NASDAQ: GOOGL) have resumed their upward climb after stumbling earlier in the year. Semiconductor plays like NVIDIA Corporation (NASDAQ: NVDA) and Advanced Micro Devices, Inc. (NASDAQ: AMD) have also been huge sources of strength.
High and growing health-care costs are a problem for everyone — but especially so for state and local governments. Related: Doctor’s offices are a hot investment — what does that mean for profit vs. patient care?FitchU.S. state and local governments spent 30.7% of their budgets on health care and social services in 2015, an increase from 27.6% in 2005.